Startup India

Uttarakhand Start Up Policy

Corporate Law - The scheme is launched by the Hon’ble Governor of Uttarakhand in the year 2018 with a vision to foster an ecosystem for nurturing the spirit of entrepreneurship and to promote investment in the area of incubation and Start-up. ­­­Some Important Definitions: 1. Entity: A company (as per Companies Act, 2013) A registered Partnership Fi...

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Why does a start-up fail?

Corporate Law - There are a large number of start-ups incorporated in a year. But most of them won’t last long. Why so? What are the major hindrances to them? Following are a few reasons.  1. No Research They will not do market research and financial research. They straight away from some company or LLP and jump into […]...

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Startup India Seed Funding Scheme (SISFS)

Corporate Law - The scheme is launched by the government in the year 2016. Under the scheme, the government provides some financial assistance to the eligible startups for proof of concept, prototype development, product trials, market-entry, and commercialization. Such financial assistance is known as Seed Fund which will be disbursed to selected startu...

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Subsidies for Startup in Gujarat

Corporate Law - Sustenance Allowance • Rs. 20,000 per month per Startup for a period of one year. • In case if at least there is one woman as a cofounder Rs. 25,000 per month per Startup will be provided. Seed Support Upto Rs.30 Lakhs on the following, based on approval/ sanction by SLEC. i. Cost of raw […]...

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Audit and Assurance for Startups

Corporate Law - Are you an LLP with a turnover of over Rs 40,00,000 or does your capital contribution exceed Rs 25,00,000? Are you a private limited company or a public limited company? If you fall under the above categories, an audit of your financial statements is compulsory. What is an Audit? The audit is the systematic and […]...

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Govt urges startups to incorporate and list in India and not move to tax havens

Corporate Law - Shri Piyush Goyal calls for strengthening of ethics and corporate governance norms in startups. Shri Piyush Goyal urges startups to incorporate and list in India and not move to tax havens. The startup revolution must be taken to tier-2 and tier-3 cities and villages of India – Shri Piyush Goyal. Shri Piyush Goyal calls for […]...

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India’s aim is to become world’s largest Startup destination

Corporate Law - Today we are the third largest Startup ecosystem, but our aspiration is to be the world’s number one startup destination. The Startup bug has caught India’s imagination. The entire innovation ecosystem that the Startup industry represents is giving a new direction, new momentum to India...

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IMB certification is not a prerequisite to avoid angel tax

Corporate Law - IMB Certificate of Eligible Business is not a pre-requisite to avail the benefits of non-application of the provisions of clause (viib) of sub-section (2) of section 56 of the Income-tax Act, 1961 (the Act)....

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13 programmes launched by Government to promote Startups

Corporate Law - To promote startups across all the State/UTs, Government of India has launched Startup India initiative in 2016. This initiative aims at building a strong ecosystem for nurturing innovation and Startups in the country. In order to meet the objectives of the initiative, Government has launched various programmes to promote Startups across ...

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11 benefits Startups can avail under Startup India Initiative

Corporate Law - Creation of Jobs by Startups Startup India is a flagship initiative of Government of India which aims at building a strong ecosystem for nurturing innovation and Startups in the country. This initiative was launched on 16th January 2016. The startups are recognized as per eligibility conditions prescribed under G.S.R. notification 127 (E)...

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TP- operating cost should be calculated by adjusting abnormal cost incurred on account of Start-up Company

HCL Technologies BPO Services Ltd Vs ACIT (ITAT Delhi) - In the case of HCL Technologies BPO Services Ltd vs. ACIT, ITAT has held that for transfer pricing only amount retained by associates from end user is to be taken into account for transfer pricing adjustment, and to adjust operating cost by excluding abnormal cost incurred on a/c of Startup Company ...

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Fast track mergers extended to Starts ups & other small companies

Notification No. G.S.R. 93(E) - (01/02/2021) - (1) These rules may be called the Companies (Compromises, Arrangements and Amalgamations) Amendment Rules, 2021. (2) They shall come into force on the date of their publication in the Official Gazette....

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Startup India Seed Fund Scheme (SISFS) – Eligibility Criteria

Notification No. S.O. 414 (E). - (21/01/2021) - Central Government has approved the ‘Startup India Seed Fund Scheme (SISFS)’ to provide financial assistance to startups for proof of concept, prototype development, product trials, market entry and commercialization. SISFS shall provide financial assistance to startups via corpus of Rs. 945 Cro...

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Fall in collection of direct taxes is on expected lines: CBDT

NA - (07/06/2020) - There are reports in a certain section of media that the growth of direct taxes collection for the FY 2019-20 has fallen drastically and buoyancy of the direct tax collection as compared to the GDP growth has reached negative. These reports do not portray the correct picture regarding the growth of ...

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CBDT prescribes time-frame for handling grievances of Startups

F. No. 173/149/2019-ITA-I - (23/09/2019) - Grievances of Startups should be handled within the following time-frame:- i) In case of any grievance, the preliminary Action Taken Report is to be submitted to this office by the next day i.e. within one working day of calling of report by this office....

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Consolidated circular for Income Tax assessment of Startups

Circular No. 22/2019-Income Tax - (30/08/2019) - In case of Startup companies recognized by Department for Promotion of Industry and Internal Trade (DPIIT) which have filed Form No. 2 and whose cases are under limited scrutiny on the single issue of applicability of section 56(2)(viib) of the Income-tax Act, 1961 (the Act),the contention of the as...

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Recent Posts in "Startup India"

Uttarakhand Start Up Policy

The scheme is launched by the Hon’ble Governor of Uttarakhand in the year 2018 with a vision to foster an ecosystem for nurturing the spirit of entrepreneurship and to promote investment in the area of incubation and Start-up. ­­­Some Important Definitions: 1. Entity: A company (as per Companies Act, 2013) A registered Partnership Fi...

Read More
Posted Under: Company Law |

Why does a start-up fail?

There are a large number of start-ups incorporated in a year. But most of them won’t last long. Why so? What are the major hindrances to them? Following are a few reasons.  1. No Research They will not do market research and financial research. They straight away from some company or LLP and jump into […]...

Read More
Posted Under: Company Law |

Startup India Seed Funding Scheme (SISFS)

The scheme is launched by the government in the year 2016. Under the scheme, the government provides some financial assistance to the eligible startups for proof of concept, prototype development, product trials, market-entry, and commercialization. Such financial assistance is known as Seed Fund which will be disbursed to selected startu...

Read More
Posted Under: Company Law |

Subsidies for Startup in Gujarat

Sustenance Allowance • Rs. 20,000 per month per Startup for a period of one year. • In case if at least there is one woman as a cofounder Rs. 25,000 per month per Startup will be provided. Seed Support Upto Rs.30 Lakhs on the following, based on approval/ sanction by SLEC. i. Cost of raw […]...

Read More
Posted Under: Company Law |

Audit and Assurance for Startups

Are you an LLP with a turnover of over Rs 40,00,000 or does your capital contribution exceed Rs 25,00,000? Are you a private limited company or a public limited company? If you fall under the above categories, an audit of your financial statements is compulsory. What is an Audit? The audit is the systematic and […]...

Read More
Posted Under: Company Law |

Company Strike Off

You might have heard of a Company Strike Off and wondered how it works. Closing the operations of the company can be achieved by striking off the name of the company from the Register of Companies. This could happen on account of various reasons. It could also take place if a company applies to the […]...

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Posted Under: Company Law |

Startups Benefits

Several programs have been undertaken since the launch of the initiative on 16th of January, 2016 by Hon’ble Prime Minister, to contribute to his vision of transforming India into a country of job creators instead of job seekers. These programs have catalyzed the startup culture, with startups getting recognized through the Startup Indi...

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Posted Under: Company Law |

Concept of Angel Tax & Taxability under Income Tax Act 1961

As you are aware that finance is the most important driving force in our society and the country. Your bank balance determines your status in the society. Your living of standard shows your financial position and your acceptance in the society and your relatives. So finance is the most important aspects of a human life. […]...

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Posted Under: Company Law |

Govt urges startups to incorporate and list in India and not move to tax havens

Shri Piyush Goyal calls for strengthening of ethics and corporate governance norms in startups. Shri Piyush Goyal urges startups to incorporate and list in India and not move to tax havens. The startup revolution must be taken to tier-2 and tier-3 cities and villages of India – Shri Piyush Goyal. Shri Piyush Goyal calls for […]...

Read More
Posted Under: Company Law |

Startup India Scheme

In order to boost entrepreneurship in India, the Startup India campaign was announced for the first time on 15th August 2015 by the Prime Minister of India, Shri Narendra Modi. However, the action plan of the Startup India Scheme was unveiled on 16th January 2016. Notably, Startup India Scheme is one of the flagship initiatives […]...

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Posted Under: Company Law |

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